New Delhi [India], September 30 (ANI): Commerce Minister Piyush Goyal has called on US manufacturers to expand their presence in India, partner with Indian SMEs and co-invest in advanced manufacturing to help build resilient supply chains between the two countries.
Taking to his official X account, Goyal said he addressed a business roundtable convened by the National Association of Manufacturers (NAM), which brought together representatives of small and large manufacturers from across the US.
“Addressed a Business Roundtable convened by the National Association of Manufacturers (NAM), bringing together representatives of small & large manufacturers from across the US,” the post read.
Highlighting the momentum in India-US economic ties, the Commerce Minister pointed to India’s expanding industrial base and skilled workforce as he invited American manufacturers to explore investment and partnership opportunities in the country.
“Highlighted the strong momentum in India-US economic ties, along with India’s expanding industrial base & skilled workforce,” he said.
Goyal also called on US companies to deepen their presence in India by partnering with domestic small and medium enterprises and investing jointly in advanced manufacturing.
“Invited American manufacturers to explore opportunities to deepen their presence in India, partner with Indian SMEs, and co-invest in advanced manufacturing to build resilient supply chains that create value for both economies,” he added.
Earlier, Goyal said the India-US trade deal was almost “done and dusted,” adding that the two sides would execute the pact once Washington gives India the right competitive advantage over its rivals in the American market.
Separately, a senior US State Department official told ANI that the India-US trade deal was “90 per cent completed,” with only the final details remaining to be worked out.
The official described the trade deal as the “most sticking point” in bilateral ties, while noting that its conclusion could potentially “unleash another level” of India-US relations.
External Affairs Minister S Jaishankar has also said that the proposed trade agreement is at an advanced stage, however, he stressed, changes in the US tariff landscape and the ongoing Section 301 process as factors affecting the timing of its conclusion.
Section 301 of the US Trade Act of 1974 allows the US Trade Representative (USTR) to investigate trade practices it considers unfair or burdensome to US commerce and take trade action in response. (ANI)